If a firm sells 100 units of output at $15 per unit and 110 units of output when price is reduced to $12, its marginal revenue from selling the last unit is
A. $30.
B. $180.
C. -$30.
D. -$180.
Answer: D
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Goldsmiths who issued receipts for the customer deposits of gold or silver coins were probably the originators of
A) money. B) paper money. C) seignorage. D) Federal Reserve notes.
The international institution that serves as a lender of last resort is called the
A) IBRD. B) WTO. C) IMF. D) World Bank. E) GATT.
Suppose that real GDP starts at 100 and grows at a rate of 10 percent per year for two years. In the third year real GDP would be:
A. 110. B. 110.1. C. 120. D. 121.
When a government has a budget deficit, it must issue (sell) government bonds to finance the deficit. Does it matter for the rate of inflation if the government sells the government bonds to the public or sells the government bonds to the central bank?
Explain why it does or does not matter. What will be an ideal response?